Debt Recovery Tribunal Allows Bank Recovery Because Borrower Defaulted on Overdraft Loan Repayment

Canara Bank Vs Yesu (DRT Chennai) The matter before the Debt Recovery Tribunal (DRT), Chennai arose from an Original Application filed by the applicant bank on 4 March 2020 under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 seeking recovery of ₹25,40,017 in relation to an overdraft facility. The bank sought recovery of the outstanding amount together with further interest from the date of application until realization, along with costs. According to the bank, the defendant, who was engaged in the business of laying granite slabs and modular kitchens, had approached the bank f...